Facebook CEO and Founder Mark Zuckerberg has just announced a $500 million donation to charity. Zuckerberg and his wife Priscilla revealed on Facebook that they have donated 18 million Facebook shares to the Silicon Valley Community Foundation.
With Facebook shares currently valued at $27.71, the donation equals $498.78 million.
In 2010, Zuckerberg signed” The Giving Pledge,” which asks America’s richest earners to donate the majority of their wealth to charity while still alive.
You might recall that, just months earlier, Mark Zuckerberg donated $100 million the Newark City Public School System. Zuckerberg’s first education involvement was announced during an interview with Oprah Winfrey.
In his new Facebook post, Mark Zuckerberg writes:
“Two Years ago, Priscilla and I signed The Giving Pledge committing to donate the majority of the money we earn to charity.
“Our first major project has been around education reform with Startup: Education in Newark, NJ. I’m raelly proud of the work we’ve done there, helping leaders like Governor Chris Christie and Mayor Cory Booker sign the most progressive teachers contract in our country, opening four new district high schools, 11 new charter schools and more.
“Today, in order to lay the foundation for new projects, we’ve made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation. Together, we will look for areas in education and health to focus on next. I’m hopeful we’ll be able to have as positive an impact in our next set of projects.”
The Giving Pledge is not a contract but rather a promise, and so far Mark Zuckerberg and Priscilla are living up to the spirit of the pledge: